T. Rowe Price Group Inc. (TROW)

NASDAQ: TROW · USD

$104

+0.41 (+0.4%)· Recorded snapshot

英語版にフォールバックJA

翻訳中のため英語版を表示しています

このレポートはまだ翻訳されていません。翻訳キューが追いついたら数分後に更新してください。

StockMarketAgent Research · Analyzed 2026-10-08

Our latest published analysis: TROW rated Hold

T. Rowe Price Group Inc.'s published Hold conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$110 / share

Potential value

$140 / share

Upside to FV

+6.1%

from $104

Moat

6.5/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$22.1B
Revenue (ttm)	7.6B
Net income (ttm)	2.2B
EPS (ttm)	$9.96
Shares out	213.3M
P/E (trailing)	10.4x
P/E (forward)	10.2x
Dividend	$5.20 (5.02%)
Volume	1,958,758
Beta	1.47

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 7.6B
Net income (ttm): 2.2B
EPS (ttm): $9.96
P/E (trailing): 10.4x
P/E (forward): 10.2x
Market cap: $22.1B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$7.67B	$6.49B	$6.46B	$7.09B	$7.31B	-1.2%
Gross profit	$5.29B	$4.17B	$3.79B	$3.68B	$4.58B	-3.5%
Operating income	$3.71B	$2.37B	$1.99B	$2.33B	$2.19B	-12.4%
Net income	$3.08B	$1.56B	$1.79B	$2.10B	$2.09B	-9.3%
EPS (diluted)	$13.12	$6.70	$7.76	$9.15	$9.24	-8.4%
EBITDA	$3.91B	$2.71B	$2.24B	$2.98B	$3.05B	-6.0%
R&D	$1	$0	$0	—	—	-13.4%
SG&A	$868.5M	$972.7M	$972.2M	$1.08B	$2.20B	+26.2%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
ACGL	Arch Capital Group Ltd.	34.8B	8.3x	1.8x	15.9%	+15.1%	+18.7%	強い買い
AIG	American International Group Inc.	41.7B	14.7x	1.6x	7.7%	-9.6%	+2.8%	強い買い
AIZ	Assurant, Inc.	14.1B	13.6x	1.0x	14.4%	+6.6%	+36.2%	ホールド
AJG	Arthur J. Gallagher & Co.	66.7B	43.2x	4.4x	6.6%	+15.3%	-5.7%	買い
ALL	The Allstate Corporation	63.2B	5.0x	0.9x	32.6%	+8.5%	+31.8%	強い買い
AMP	Ameriprise Financial, Inc.	43.1B	11.8x	2.2x	43.0%	+8.9%	+1.1%	買い

Base and Bull scenarios

Base55%

Price target

$109.81

+6.1% from spot

In the Base case, representing a 55.0% probability with a target of $109.81 (implied return of 6.1% relative to $103.54), the franchise maintains top-line stability as defined-contribution retirement inflows and active ETF scaling offset ongoing active equity outflows. Operating margins hold near baseline levels through disciplined expense containment, and substantial cash generation supports ongoing dividend distributions and share buybacks. This scenario would be disconfirmed if persistent fee compression or accelerated active redemptions drive operating margins materially below historical norms over consecutive reporting periods.

Consolidated revenue expands at a modest pace supported by market appreciation and steady retirement contributions, counterbalancing fundamental active equity redemptions.
Operating margins normalize near baseline levels as technology efficiencies and AI-enabled workflows absorb guided operating expense growth.
Active transparent ETF assets continue expanding alongside steady sub-advisory mandate wins.
Consistent capital returns via regular dividends and disciplined share repurchases reduce diluted share count gradually over the forecast horizon.

Bull20%

Price target

$140.14

+35.3% from spot

In the Bull case, assigned a 20.0% probability with a target of $140.14 (representing a 35.3% return from $103.54), accelerated scaling of active transparent ETFs and rapid penetration of wealth advisor model portfolios drive an organic revenue inflection. Strategic alternative partnerships with leading institutions broaden the fee base, while operating leverage and technology automation expand operating margins significantly. Disconfirmation would occur if intermediary model adoption stalls or if ETF net inflows decelerate to modest levels over the medium term.

Active transparent ETFs scale rapidly across institutional and wealth channels, generating substantial organic net inflows.
Customized multi-asset model portfolio partnerships with major wealth intermediaries drive widespread advisor adoption.
Alternative investment partnerships and private credit strategies scale effectively, lifting blended advisory fee realization.

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($109.81). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.0%	2.3%	2.5%	2.8%	3.0%
9.4%	$117	$119	$121	$123	$125
9.9%	$112	$113	$115	$117	$119
10.4%	$107	$108	$110	$111	$113
10.9%	$103	$104	$105	$107	$108
11.4%	$98.7	$99.8	$101	$102	$103

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E10.2

P25 n/aP50 n/aP75 n/a

Trailing P/E10.4

P25 n/aP50 n/aP75 n/a

ROE19.4

P25 n/aP50 n/aP75 n/a

ROIC21.6

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All TROW indicators

Market & fundamental data

Available fields

291

Groups with data

Currency

USD

Showing 291 of 291 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0001113169
Company name	T. Rowe Price Group, Inc.
Country	United States
Country code	US
CUSIP number	74144T108
Earnings date	2026-10-29
Earnings time	bmo
Employees	7,773
Employees change	-385
Employees growth	-4.72%
Enterprise value	$19.4B
Exchange	NASDAQ
Financial currency	USD
Financial report date	2026-06-30
First seen	2026-05-09
Fiscal year end	December
Founded	1937
In index	SP500
Industry	Asset Management
Is primary listing	Yes
Is SPAC	No
ISIN number	US74144T1088
Last 10-K release date	2026-02-13
Last earnings date	2026-07-31
Last refreshed	2026-10-28
Last stock split date	2006-06-26
Last stock split type	Forward
Market cap	$22.2B
Market cap category	Large-Cap
Next earnings date	2026-10-29
Options	Yes
Price	$104.04
Price currency	USD
Sector	Financials
SIC code	6282
Stock price date	2026-10-28
Symbol	TROW
U.S. state	Maryland
Website	https://www.troweprice.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	10.06x
Average P/E ratio (10Y)	13.74x
Average P/E ratio (3Y)	12.07x
Average P/E ratio (5Y)	13.03x
Earnings yield	9.57%
EV/Earnings	8.92x
EV/EBIT	7.63x
EV/EBITDA	6.52x
EV/FCF	11.55x
EV/Sales	2.55x
FCF / EV yield	8.66%
FCF yield	7.57%
Forward EV/Sales	2.47x
Forward P/E	10.23x
Forward P/S	2.82x
Graham number	107.51726
Graham upside	3.7%
Industry forward P/E	12.81x
Industry P/E	27.36x
Lynch fair value	$49.80
Lynch upside	-51.96%
P/(FCF - SBC) ratio	15.11x
P/(OCF - SBC) ratio	12.84x
P/B ratio	2.01x
P/E ratio	10.44x
P/FCF ratio	13.21x
P/OCF ratio	11.45x
P/S ratio	2.91x
PEG ratio	4.9x
Price / tangible book value	2.73x
Price/EBITDA ratio	7.46x
Sector forward P/E	13.61x
Sector P/E	15.68x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	33.36%
EBITDA margin	39.04%
Effective tax rate	23.38%
FCF margin	22.05%
Gross margin	51.61%
Operating margin	33.36%
Pretax margin	40%
Profit margin	29.26%
Profit per employee	$278,824
Profitable quarters	129
Profitable years	34
Revenue per employee	$976,714
ROA	10.66%
ROA (5Y)	12.91%
ROCE	17.68%
ROE	19.4%
ROE (5Y)	20.62%
ROIC	21.57%
ROIC (5Y)	22.46%
SBC / revenue	2.76%
Tax / revenue	9.35%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	11.54%
EPS growth (Q)	28.62%
EPS growth (QoQ)	29.08%
EPS growth 10Y	8.99%
EPS growth 3Y	14.12%
EPS growth 5Y	-4.71%
EPS growth quarters	5
EPS growth years	3
FCF growth	42.86%
FCF growth (Q)	-3.59%
FCF growth (QoQ)	-40.85%
FCF growth 3Y	9.02%
FCF growth 5Y	-1.97%
Gross profit growth	7.69%
Gross profit growth (Q)	8.03%
Gross profit growth 3Y	8%
Gross profit growth 5Y	-1.46%
Net income growth	8.98%
Net income growth (Q)	25.1%
Net income growth (QoQ)	26.83%
Net income growth 3Y	12.79%
Net income growth 5Y	-5.73%
Net income growth quarters	5
Net income growth years	0
OCF growth	26.01%
OCF growth (Q)	-2.38%
OCF growth (QoQ)	-37.24%
OCF growth 10Y	11.87%
OCF growth 3Y	7.88%
OCF growth 5Y	-1.47%
Operating income growth	11.35%
Operating income growth (Q)	14.41%
Operating income growth 3Y	11.97%
Operating income growth 5Y	-5.36%
Revenue growth	6.97%
Revenue growth (Q)	10.68%
Revenue growth (QoQ)	2.71%
Revenue growth 10Y	6.25%
Revenue growth 3Y	6.64%
Revenue growth 5Y	1.39%
Revenue growth quarters	4
Revenue growth years	2

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-258.4M
Depreciation and amortization	$431.3M
EBIT	$2.5B
EBITDA	$3B
EPS	$9.96
FCF per share	$7.85
Financing cash flow	$-1.3B
Free cash flow	$1.7B
Free cash flow minus SBC	$1.5B
Gross profit	$3.9B
Income taxes	$709.9M
Investing cash flow	$-430.3M
Net borrowing	$217.8M
Net cash flow	$179.1M
Net income	$2.2B
Operating cash flow minus SBC	$1.7B
Operating income	$2.5B
Revenue	$7.6B
Stock-based compensation	$209.8M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	6.48
Book value per share	$51.58
Debt / EBITDA	0.15
Debt / equity	0.04
Debt / FCF	0.27
Goodwill	$2.6B
Long-term assets	$11.2B
Long-term liabilities	$2.2B
Net cash (debt)	$2.8B
Net cash / market cap	12.59%
Net cash growth	9.71%
Net debt / EBITDA	-0.94
Net debt / equity	-0.23
Net debt / FCF	-1.66
Piotroski F-Score	4
Property, plant and equipment	$1.2B
Shareholders' equity	$12.2B
Tangible book value	$8.1B
Tangible book value per share	$38.04
Total assets	$15.4B
Total cash	$3.2B
Total debt	$450.6M
Total liabilities	$3.2B
WACC	12.1%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.51
Current assets	$4.2B
Current liabilities	$1B
Current ratio	4.04
Net working capital	$-71.2M
Quick ratio	4.04
Working capital	$3.1B
Working capital turnover	2.47

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	2.09%
Dividend growth	2.38%
Dividend growth (10Y)	9.22%
Dividend growth (3Y)	2.08%
Dividend growth (5Y)	4.54%
Dividend growth years	40
Dividend payment date	2026-09-29
Dividend payment years	41
Dividend payout frequency	Quarterly
Dividend per share	$5.20
Dividend yield	5.02%
Ex-dividend date	2026-09-15
FCF payout ratio	66.27%
Last dividend	$1.30
Payout ratio	52.2%
Shareholder yield	7.11%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	62.28%
10Y return CAGR	8.99%
10Y total return	136.51%
150-day SMA	$106.22
15Y price change	82.33%
15Y return CAGR	7.87%
15Y total return	211.71%
1D price change	0.4%
1M price change	-1.83%
1M total return	-1.83%
1W price change	1.42%
1W total return	1.42%
1Y price change	-1.27%
1Y return CAGR	3.93%
1Y total return	3.93%
20-day SMA	$103.13
200-day SMA	$103.68
20Y price change	121.28%
20Y return CAGR	7.43%
20Y total return	318.91%
3M price change	-13.11%
3M total return	-12.03%
3Y price change	17.19%
3Y return CAGR	10.69%
3Y total return	35.63%
50-day SMA	$105.92
50-day SMA vs 200-day SMA	50over200
52-week high	$122.00
52-week high date	2026-07-28
52-week low	$85.22
52-week low date	2026-03-20
5Y price change	-49.16%
5Y return CAGR	-8.62%
5Y total return	-36.26%
6M price change	2.19%
6M total return	4.7%
All-time high	$224.56
All-time high date	2021-08-30
All-time low	$0.55
All-time low date	1987-10-28
Average true range (ATR)	$2.16
Average volume	2M
Beta (1Y)	0.75
Beta (2Y)	0.99
Beta (5Y)	1.47
Change from 52-week high	-14.72%
Change from 52-week low	22.08%
Change from all-time high	-53.87%
Change from all-time low	18,839.48%
Change from open	0.04%
Day's gap	0.36%
Dollar volume	$203.8M
High price	$104.20
Low price	$102.72
Monthly RSI	48.12
Open price	$104.00
Position in 52-week range	89.19%
Premarket change	-0.13%
Premarket close	$103.63
Premarket price	$103.50
Premarket volume	600
Previous close	$103.63
Price vs 150-day SMA	-2.48%
Price vs 20-day SMA	0.43%
Price vs 200-day SMA	-0.1%
Price vs 50-day SMA	-2.21%
Relative volume	0.96
RSI	48.72
Sharpe ratio	0.11
Sharpe ratio (3Y)	0.27
Sharpe ratio (5Y)	-0.28
Sortino ratio	0.38
Sortino ratio (3Y)	0.61
Sortino ratio (5Y)	-0.21
Volume	2M
Weekly RSI	46.18
YTD price change	1.17%
YTD total return	5.2%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	209.2M
Float percentage	98.08%
Shares change (QoQ)	-1.56%
Shares change (YoY)	-2.09%
Shares held by insiders	1.8%
Shares held by institutions	89.99%
Shares outstanding	213.3M
Short % of float	12.19%
Short % of shares	11.95%
Short ratio	17.6 days

Deeper analysis on TROW

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this TROW report

What is the latest published TROW stock rating?

T. Rowe Price Group Inc. is shown with Hold in the latest published report, analyzed 2026-10-08. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full TROW analysis?

The full latest published report, analyzed 2026-10-08, lives at /stocks/TROW/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for TROW?

The latest published report analyzed 2026-10-08 gives TROW a fair value of USD 110 and a potential value of USD 140. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the TROW page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-10-08). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

HoldTROW · Fair value $110+6.1%

Read full analysis →

T. Rowe Price Group Inc. (TROW)

Our latest published analysis: TROW rated Hold

Price

Financial snapshot

Fair-value bridge

Latest news · TROW

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All TROW indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on TROW

Frequently asked questions

レーティング履歴

Category	Score	Reading
Valuation	6.0
Management	8.5
Balance Sheet	8.5
Profitability	7.5
Revenue Growth	6.0
Risk Assessment	8.0
Competitive Moat	6.5
Earnings Quality	7.5
Capital Efficiency	7.5